Guideline Value for Nethaji Street

Nethaji Street guideline value

The current guideline value of Nethaji Street in Ullagaram village is Rs 2,200 per sq.ft, effective from 1 July 2024. This street falls under the Alandur SRO and is classified as Residential Class II Type - II.

How the guideline value of Nethaji Street has changed

The guideline value for Nethaji Street has seen significant changes over the years. In the 2002 revision, the value was Rs 172 per sq.ft, which increased to Rs 193 per sq.ft in 2003. Following that, the value surged to Rs 1,000 per sq.ft in 2007, marking a substantial increase of 418%. The 2012 revision saw the value at Rs 2,000 per sq.ft, reflecting a 100% increase from the previous revision. However, in 2017, the value dropped to Rs 1,340 per sq.ft, a decrease of 33%. The subsequent revision in 2023 brought the value back up to Rs 2,000 per sq.ft, and the most recent revision in 2024 set it at Rs 2,200 per sq.ft, a 10% increase.

Overall, from 2002 to 2024, the guideline value has increased by 1179%. There are no figures available for the years not mentioned in the register for this street.

Guideline values in Ullagaram

In Ullagaram, there are 298 streets under the Alandur SRO that carry a 2024 guideline value, ranging from Rs 1,700 to Rs 5,500 per sq.ft, with a median value of Rs 2,800 per sq.ft. Nethaji Street's 2024 figure is below this median.

• Nehru Street: Rs 2,200 per sq.ft (2024)
• New Narmada Nagar 1st Street: Rs 2,800 per sq.ft (2024)
• New Narmada Nagar 2nd Street: Rs 2,800 per sq.ft (2024)
• New Narmada Nagar 3rd Street: Rs 2,800 per sq.ft (2024)
• New Narmada Nagar 4th Street: Rs 2,800 per sq.ft (2024)
• New Narmada Nagar main: Rs 2,800 per sq.ft (2024)

Stamp duty and registration fee for property in Nethaji Street

For a 1,000 sq.ft plot at the current rate of Rs 2,200 per sq.ft, the guideline value would be Rs 22,00,000. The stamp duty at 7% would amount to Rs 1,54,000, and the registration fee at 2% would be Rs 44,000, bringing the total to Rs 1,98,000. Duty is charged on the guideline value or the sale price, whichever is higher. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Nethaji Street?

The Sub Registrar Office that covers Nethaji Street is the Alandur Sub Registrar Office, located at 12 Ist Main Road, Nanganallur Co-operative Society Lt, Nanganallur, Chennai-600061. You can find your SRO for more information.

How the guideline value is used when you buy or sell in Ullagaram

The guideline value is a crucial factor in the registration process when buying or selling property in Ullagaram. It is used to determine the stamp duty and registration fees that must be paid at the time of registration.

When a property is sold, the guideline value serves as a baseline for calculating these fees. Buyers should be aware that the duty is charged on the higher of the guideline value and the sale price, ensuring that the appropriate fees are collected based on the property's value.

Frequently asked questions

What is the current guideline value of Nethaji Street?

The current guideline value of Nethaji Street is Rs 2,200 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

Over the years, the guideline value has increased significantly, from Rs 172 per sq.ft in 2002 to Rs 2,200 per sq.ft in 2024, reflecting an overall increase of 1179%.

What is the land classification for Nethaji Street?

Nethaji Street is classified as Residential Class II Type - II under the Alandur SRO.

What are the stamp duty rates for properties in Nethaji Street?

The stamp duty rate for properties in Nethaji Street is 7%, while the registration fee is 2% of the guideline value or sale price, whichever is higher.

Where is the Sub Registrar Office for Nethaji Street located?

The Sub Registrar Office for Nethaji Street is the Alandur Sub Registrar Office, located at 12 Ist Main Road, Nanganallur Co-operative Society Lt, Nanganallur, Chennai-600061.